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[officedweller]

From the Burnaby NewsLeader:

http://www.burnabynewsleader.com/news/211039431.html

Sears Metrotown development plans cause stir


The Simpson Sears (as it was then called) at Metrotown was the company’s first major department store in Canada. The company now plans a $1 billion redevelopment of the property. The photo here shows the building as it looked in 1976. (City Archives Photo ID # 556-176)
Burnaby Public Library Visual Archive Collection/John McCarron photo

By Wanda Chow - Burnaby NewsLeader
Published: June 11, 2013 1:00 PM

Sears Canada is generating lots of buzz over its plans for its property in Metrotown area.
...

If it all becomes a reality, while there would be other Sears stores in Canada of a "flagship" quality, "in B.C. it will be the nicest store there once we get it built, for sure it'll be a very important store," Power said from Toronto.

After all, not only is it the largest Sears in the province, when the current store was built in 1954 by the company, then known as Simpsons-Sears, it was its first major department store in Canada.
...

The recent NewsLeader story on Sears' Metrotown plans even caused a minor stir across the border among investment types.

After the story was posted on its website, the NewsLeader was contacted by three U.S. investment firms, two in New York and one in Los Angeles, seeking more information on the proposal.

Sears Canada is 51 per cent owned by U.S. parent company Sears Holdings, which also owns Kmart. The latter is currently controlled by American hedge-fund billionaire Edward Lampert who earlier this year took on the role of CEO at the department store chain.

"I just think the interest is, in the U.S. people wonder about the value of the real estate at Sears and I think the story is probably similar up in Canada," said the president of a New York-based investment firm, who spoke on condition of anonymity.

He explained that the earnings of Sears Holdings have been declining significantly in recent years.

"We're trying to figure out, is there a bunch of, sort of, hidden value in the real estate?"
...

Power said if a new Sears Metrotown store is built it would be about 100,000 square feet compared to its current 150,000 square feet. The smaller size is the "ideal model" for its stores to maximize efficiencies. Much of the extra space there now is due to its additional role for many years as a warehouse facility for other stores in the region until it built a stand-alone distribution facility.
...

[osirisboy]

What are they talking about it was the first major department store in Canada in 1954? Lol

[Alex Mackinnon]

Originally Posted by osirisboy

What are they talking about it was the first major department store in Canada in 1954? Lol

Originally Posted by Wikipedia

Sears Canada was formed in 1952 as a joint venture of Simpson's and United States retailer Sears, which now owns a 51% share.

Just the first major Sears, not department store.

[officedweller]

Yeah, you missed the "its":

... it was its first major department store in Canada.

[BIMBAM]

Originally Posted by osirisboy

What are they talking about it was the first major department store in Canada in 1954? Lol

They didn't say it was the first department store in Canada, they said it was the company's first department store in Canada, so the first Canadian Sears department store.

[osirisboy]

Ah thanks guys. Yes I missed the "its".

[GeeCee]

The old Port Chev Olds dealership on Lougheed Highway in Port Coquitlam has been torn down. There are rezoning and for lease signs up on the fence. Looks like they're going to turn it into a strip mall.

[red-paladin]

I don't know why downtown Poco is heading in such a great direction and any development in north Poco is almost thoroughly botched. The 'Fremont Village' area is a giant parking lot with big bog stores and fast food with drive throughs. Shaunessey station was bad enough, but the developments have been just getting worse from there.

[SpongeG]

poco is pretty ghetto in general - its just weird and run down looking

[Millennium2002]

The same could be said of many of the other suburban developments... but I digress. I think the criticism is more of a reflection of the higher standards that we expect in the more successful and urban areas of this region.

I imagine that things will slowly change once TransLink or some other regional force declares the rest of Lougheed Highway into Maple Ridge to be a long-term plan for frequent or rapid transit. That will put more spotlight on densifying the area for both speculation/profit (the main motivator) and livability.

[red-paladin]

That would make sense. Maybe after the Evergreen Line, and when the eventual study of the branch line starts.

[GeeCee]

Fremont Village will hopefully be better once they get the residential towers and the last retail component going, but yeah, it's definitely a car-focussed development.

[officedweller]

High Street in Abbotsford seems to be the most compact of the various big box "lifestyle" developments around - and that could be more due to site constraints rather than "livability" concerns. (I wouldn't include either of the Canadain Tire projects in Vancouver (Grandview or Marine Dr) in a "lifestyle" category.

[GMasterAres]

Originally Posted by red-paladin

That would make sense. Maybe after the Evergreen Line, and when the eventual study of the branch line starts.

Would make sense because an area with 250,000 people deserves 3 rapid transit lines compared to an area with 700,000 people with 4 stations on 1 line. Oh wait never mind that's Burnaby already... so I guess it will happen.

[Klazu]

So far no good render of these two towers exists, but the project is called Maillardville Towers at 1026 Brunette Avenue in Coquitlam.

[SpongeG]

wow, in that render it looks like the trashy trailer park is gone... will be good to see that area change, but it does flood

[VanK]

Intracorp received 1st reading for their Burquitlam Foster Ave proposal. Knocking down 18 SF homes in favour of 5-storey frame + 107 townhomes.

Report of General Manager Planning and Development – Preliminary Report on Applications for CWOCP Amendment Bylaw No. 4407, 2013 and Zoning Amendment Bylaw No. 4408, 2013 for 206-unit Multi-Family Development (99 Apartments and 107 Townhouses) and Expansion of the Burquitlam Community Garden- 514 to 554 Foster Avenue and 636 to 640 Aspen Street (12 013910 OC, 12 013913 RZ)

[Jebby]

^^ turning 18 homes into 107? That's what I like to see

[officedweller]

http://www.newwestnewsleader.com/news/212009831.html

Council moves on Larco

By Grant Granger - New Westminster News Leader
Published: June 18, 2013 11:00 AM
Updated: June 19, 2013 4:53 PM

New Westminster wants to work with Larco Investments to create a scaled-back plan for its vacant riverfront property.

The land between the River Market and Westminster Pier Park has been sitting vacant for decades.

Approval for a rezoning application from Larco was first given by council in 1996 and development permit was given the green light in 2005.

The proposal on the books calls for five highrises with 911 residential units. Since it is on the riverbank and over top of water, multi-storey parking lots with more than 1,200 stalls would have been required. Larco also agreed to provide several pedestrian and vehicle connections between Downtown and the waterfront.

Larco has hesitated on going through with the proposal because of the high cost of developing over water and of the obligations it committed to at that time. In addition, since then many things have changed on the waterfront.

Those include the opening of Westminster Pier Park, the abandoning of North Fraser Perimeter Road—which would have involved Front Street–by TransLink and changes in community values. On top of that, council on Monday adopted a draft parking strategy that could see half of the Front Street parkade coming down in the next few years and the rest of it within 20.

On Monday, council agreed with a staff report recommending the city consult with Larco on creating a new concept.
...

http://www.newwestnewsleader.com/news/212009831.html

Original plan:


Larco's last-approved plan would have seen five towers of more than 30 storeys on the waterfront.
http://www.newwestnewsleader.com/news/212009831.html

[logan5]

With the Larco property, I get the impression that these guys are greedier than most and will not be pleased with this decision. If that's the case, I hope they sell the property fast so DT New West can get on with developing this site. Maybe this announcement is designed to do just that.

I definitely agree that the plan to put 5 towers on the waterfront was a terrible idea that was borne out of pure greed, and absolutely zero regard to building a quality neighborhood.

Coun. Lorrie Williams said she voted against the project in 2005 because the five towers would cut off the view of the river from Downtown.

“I thought they looked like bars on a window and would shut off the city from the water,” said Williams. “I can accept the two-tower idea.”

Coun. Bill Harper felt five high rises would have effectively created a wall.

“It begins to open up and instead of the city having its back to the river it has a front door,” said Harper, who termed the decision to approach Larco as a “bold” move. “It’s a logical next step and I’m really hoping Larco will be sympathetic to this and continue to consider redevelopment, but I’m not 100 per cent sure that is going to take place.”